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Renewable energy:
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New Mexico’s generous industry incentives, supportive political leadership and established research community have made it a national leader in renewable energy research and development. By locating at Albuquerque’s Mesa del Sol, renewable energy firms will enjoy high-end facilities with low operating costs, including build-to-suit technical workspace and ample acreage for future expansion.
And they’ll be in very good company. In addition to the two world-class solar energy companies already located at Mesa del Sol (see sidebar), Albuquerque has one of the highest concentrations of Ph.D.-level scientists in the nation, and both Sandia National Laboratories (just minutes from Mesa del Sol) and Los Alamos National Laboratory are leaders in the quest to advance sustainable energy technologies. In addition, related research is thriving at University of New Mexico, New Mexico Tech, and New Mexico State University.
Tax credits for sustainable energy firmsEffective July 1, 2007, New Mexico manufacturers of advanced energy vehicles, fuel cell systems, renewable energy systems, or any component of an advanced energy vehicle, fuel cell system, or renewable energy system may qualify for a tax credit of 6% of qualified expenditures and may be deducted from the taxpayer's modified combined tax liability.
Tax credits for energy producersFirms producing renewable energy using wind, solar or biomass are eligible for a tax credit on the first 200,000 megawatt hours produced annually for ten years. This graduated-scale credit averages 2.7 cents per kilowatt-hour of production for facilities greater than 1 megawatt. If power is generated by wind or biomass, the credit allows for .01 cents per kilowatt-hour for the first 400,000 megawatt hours produced. Tax credits are taken against corporate income tax and personal income tax, and can be carried forward five years or refunded. For details and qualifications, click here.
Tax credits for green buildingTax credits for green construction encourage companies to build and operate in a sustainable and conservative manner. Rates are based on the level of conservation and energy efficiency and apply to new construction, existing buildings and commercial interiors.
Finally, New Mexico has a long history of governmental support for sustainable technologies. The state’s two U.S. senators lead the Senate Energy and Natural Resources Committee. New Mexico Governor Bill Richardson (a former U.S. Secretary of Energy) has helped lead the charge on industry incentives. And Albuquerque Mayor Martin Chavez, one of the first mayors in the country to sign the Kyoto Protocol, created city-wide programs that resulted in Albuquerque winning the 2007 Mayors’ Climate Protection Award from the U.S. Conference of Mayors. In 2004 alone, New Mexico received more than $40 million from the U.S. Department of Energy’s Office of Energy Efficiency and Renewable Energy for a variety of state and federal programs.
Source: New Mexico Partnership
Contact Mesa del Sol's Renewable
Energy Industry Specialist
Mark Lautman
Director of Economic Development
Mesa del Sol
801 University blvd. SE, Suite 200
Albuquerque, NM 87106
Phone: 505-452-2600
Fax: 505-452-1900
Email: mlautman@fcmds.com
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